Several Reasons to Choose BCH Funding a Crypto Casino Account
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Several Reasons to Choose BCH Funding a Crypto Casino Account
When European online casino operators started accepting cryptocurrency as a viable banking option, they tended to restrict the acceptance to Bitcoin (BTC). Over the last 3-4 years, they have expanded crypto acceptance to include popular cryptocurrencies like Dogecoin (DOGE) and Bitcoin Cash (BCH) among others.
Since BCH is an extension of the BTC branch of cryptos, it has become a logical choice of banking option for a lot of online gamblers. Why? Let’s take a look at several reasons why choosing BCH to fund crypto casino accounts makes sense. The discussion is designed to point out why using BCH might make more sense than using BTC.
Online gamblers are always in a hurry when they decide to settle in and enjoy a few hours of casino play. They don’t like waiting for deposits to clear and withdrawals to be released. Cryptocurrencies like BCH and BTC have made it quicker to get good gambling funds recorded.
The secret to the speed at which cryptos can be processed by online casino operators is the wallet-to-wallet protocol. When deposits are sent to the casino via a crypto wallet, the operator knows they immediately have good funds and oblige by quickly crediting the customer’s account. Likewise, they will process withdrawal requests faster because they have no concerns related to the origin of any initial deposit.
This is one area where BCH is proving to be better than BTC. For unknown reasons, BCH transactions seem to get processed much faster than BTC transactions. That’s a big deal to online gamblers who are ready to get into action.
In the online casino world, controlling overhead expenses is a must. The fact crypto transactions can be received and sent wallet-to-wallet with very little human intervention is viewed very favorably by online casino owners. They prefer it so much that they don’t typically charge customers transaction fees related to crypto deposits and withdrawals. Customers like that!
If there are any transaction fees involved on either end of an online casino transaction, BCH fees are materially less than BTC fees.
As was indicated above, online casino operators love crypto transactions because they require less overhead for processing. As an additional motivation to get customers to use cryptos to fund their gambling accounts, online casino operators have shown a propensity for offering bigger bonuses to crypto players. Casinos will do this because they know they are getting good funds. Not only do they typically offer bigger bonuses, but they also allow for bigger deposits and withdrawals. This is great for high rollers.
It would not be uncommon for a free spins no deposit bonus on Crypto Loko to render a welcome bonus of 200% on the initial deposit amount up to a max of $5,000 as opposed to a regular bonus capped at $1,000. That’s quite a difference.
If there is a single reason why an online gambler might not want to transact with casinos via BCH or BTC, it might be pricing volatility. Remember, most crypto prices change by the second on heavy trading days. The issue for online gamblers goes something like this.
Gambler A makes a BCH or BTC deposit with the coin’s price at a certain price point. After gambling for a little while and making a little money, they decide to make a withdraw. Unfortunately, the coin’s price might have taken a big hit in the interim. Effectively, they could win but get back less money than the amount with which they started.
While this is a potential issue, it is worth noting that BCH tends to be less volatile than BTC. That translates to less volatility exposure for BCH online gamblers.
The great value online gamblers can derive from using cryptos as banking options is the high level of anonymity or privacy they get. Remember, crypto transactions are recorded on a blockchain that includes no personal information, producing only transaction ID numbers.
Both BCH and BTC do offer a lot of anonymity. With that said, BCH is the king when it comes to anonymity or privacy. Why? They are the only crypto that uses a transaction technology called “zero-knowledge proofs.” What are zero-knowledge proofs? It’s very complicated but here is a rough definition via Wikipedia:
“a method by which one party (the prover) can prove to another party (the verifier) that a given statement is true while avoiding conveying to the verifier any information beyond the mere fact of the statement’s truth.”
Conclusion: What does all of this mean to a new online gambler like you? If you are ready to jump into the deep end of the online casino gambling pool, you might want to consider how much you could benefit by transacting with your online casino via Bitcoin Cash.
